What is Data Analytics Platform?

 

What is Data Analytics and Data Analytics Platform?

Data analytics is the science of studying raw data in order to draw conclusions about it. Many data analytics approaches and processes have been turned into mechanical processes and algorithms that operate on raw data for human consumption.

The process involves examining data sets in order to find trends. Data analytics relies on a number of software tools such as spreadsheets, data visualization and reporting tools, data mining applications, and open-source languages.

The approaches and processes have been mechanized into mechanical processes and algorithms that work over raw data for human consumption. The data analytics platform helps in executing the operations on data analytics as a whole package. In order to perform data analytics and to gain some useful perception from the enormous volumes of data, certain tools are used. These tools basically work as a data as a platform tool.

Data analytics platform and systems are extensively used in marketable industries to enable businesses make better and accurate decisions.

Advantages of Data Analytics Platform

1. High acceptance Rate

Businesses that use analytics platforms for the first time have a very high acceptance rate. In fact, approval rates for the ideal instruments range between 85 and 90 percent. In other words, more than 8 out of every 10 people who try out an analytics platform for the first-time wind up becoming full-time customers.

2. Increased Deals

Within a few months, sales teams who employ analytics platforms see a significant rise in total earnings. Thus, if you’re still unsure whether an analytics platform is ideal for your company, consider the fact that you’ll get a speedy return on your investment.

Many organizations have seen a rise in profit since their sales team accurately monitors their KPIs using their data analytics platform and quickly identifies something that was previously slowing them down. When customers begin to fully utilize the analytics platform, the picture becomes much clearer on what they were previously lacking.

3. Detects trends before they become serious issues.

Early stages of a problem are sometimes difficult to determine. However, with the assistance of an analytics platform, you will be able to determine what caused the problem and devise a strategy for resolving it before its consequences become too severe. Invest in an analytics platform before your organization suffers significant damage or incurs more losses!

Why you should use Data Analytics Platform

1. Targeted Marketing

Presently, marketing experts no longer have to calculate on gut instinct and guesswork. AI- driven analytics results can:

  • Cultivate precise client segmentation and profiling for improved campaign targeting
  • Predict client activities and purchasing patterns
  • Personalize a prospect’s whole digital experience from messaging, to product, to pricing

2. Personalized Customer Experience

Data analytics reveals a plethora of consumer perceptions based on the actions they take in your physical or digital locations. For example, in the retail sector, you can combine the use of IoT capabilities such as movement detecting cameras with analytics data to discover sections or shelves that attract the most revenue.

3. Strategy Acceleration

Adopting data analytics fosters a culture of strategic decision making throughout the organization. Businesses may expedite growth goals and empower their teams to act without fear or hesitation.

We hope this article was insightful and helped you to understand the concept of data analytics and data analytics platform. Thank you for showing interest in our blog and if you have any questions related to Data Science, Big Data and Data analytics please send us an email at info@futureanalytica.com.


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